2024 Toyota Mirai To Hit The Market In July With Unprecedented $33,000 Discount

Toyota’s Aggressive Discount Strategy Aims to Boost Mirai Sales Amid Hydrogen Fueling Challenges

Toyota has significantly dropped the prices of its 2023 Mirai fuel cell electric vehicles earlier this year, translating to substantial savings for buyers. Following a recent increase in the 2024 Mirai’s MSRP, Toyota has made a bold move by reducing the APR subsidy by $40,000 on the top-tier 2023 Mirai Limited model. This decision comes just four days after Shell announced the closure of its select hydrogen filling stations in California, pushing Toyota to clear existing inventory and entice consumers onto the hydrogen pathway. Originally priced at approximately $68,000, the Limited trim now starts at under $30,000 when factoring in Toyota’s discounted APR, a $15,000 hydrogen fuel card valid for six years, and 0% APR financing through Toyota Financial Services. Overall, the effective cost plummets to about $13,000 before taxes and fees.

2024 Mirai Deals Sweeten the Pot

According to Cars Direct, Toyota dealerships are offering nearly as compelling promotions on the 2024 Mirai models. The current incentives include an APR Cash offer slashing $33,000 off the Limited trim and $25,000 off the base XLE trim. These reductions bring the Limited model’s price to around $35,000 and the XLE’s price to approximately $26,000. Additionally, these offers can be combined with a $15,000 hydrogen fuel card and 0% financing for a duration of 72 months for qualified buyers.

California-Exclusive Hydrogen Market

The Mirai is exclusively sold in California—the only state that provides public hydrogen fueling stations for small passenger vehicles. Shell’s recent shutdown of hydrogen stations has negatively impacted the sales of the Mirai, as well as Hyundai’s similarly powered Nexo. Southern California Toyota dealers have sold between 2,000 and 3,000 Mirais annually over the past three years, but sales have dropped sharply to fewer than 250 units in the first half of this year. Hyundai’s Nexo sales are facing similar challenges, with 408 units sold in 2022 and just 241 units sold thus far in 2023, bringing the total to fewer than 80 units by the end of June this year.

Limited-Time Offers

For those considering purchasing a new Toyota Mirai, Cars Direct indicates that these promotions will be available until July 31st. This limited-time offer provides a prime opportunity for buyers to take advantage of significant savings and attractive financing options on one of the industry’s leading hydrogen fuel cell vehicles.

With these aggressive discounts and financing offers, Toyota aims to revitalize interest in the Mirai despite the setbacks posed by the closure of hydrogen fueling stations. Buyers in California looking to make a green, forward-thinking automobile purchase may find this an opportune moment to invest in a Mirai.